Microvision, Inc. (NASDAQ:MVIS) Short Interest Down 90.8% in August

Microvision, Inc. (NASDAQ:MVIS) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 4,832,187 shares, a decrease of 90.8% from the July 30th total of 52,671,835 shares. Based on an average daily volume of 2,310,930 shares, the days-to-cover ratio is presently 2.1 days. Currently, 20.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Microvision

Several hedge funds and other institutional investors have recently bought and sold shares of MVIS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Microvision by 7.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 134,287 shares of the electronics maker’s stock valued at $153,000 after acquiring an additional 9,637 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Microvision by 17.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,608 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 13,217 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Microvision by 77.4% in the 2nd quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 13,315 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Microvision by 114.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 13,735 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Microvision by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 697,357 shares of the electronics maker’s stock valued at $447,000 after purchasing an additional 20,032 shares during the last quarter. 30.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Microvision in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of Microvision to a “sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.

Microvision Stock Up 6.5%

MVIS traded up $0.11 during trading on Tuesday, reaching $1.81. The stock had a trading volume of 1,500,114 shares, compared to its average volume of 2,102,270. The stock has a 50 day moving average of $4.19 and a two-hundred day moving average of $7.61. The firm has a market capitalization of $43.06 million, a price-to-earnings ratio of -0.33 and a beta of 1.27. Microvision has a 1-year low of $1.65 and a 1-year high of $23.10.

Microvision (NASDAQ:MVIS) last issued its quarterly earnings results on Thursday, August 6th. The electronics maker reported ($1.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.91). The firm had revenue of $1.47 million for the quarter, compared to analyst estimates of $1.00 million. Microvision had a negative net margin of 3,976.67% and a negative return on equity of 221.31%.

Microvision Company Profile

MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.